Baker Hughes Given New $73.00 Price Target at JPMorgan Chase & Co. (BHI)
Research analysts at JPMorgan Chase & Co. upped their price target on shares of Baker Hughes (NYSE:BHI) from $62.50 to $73.00 in a report released on Wednesday, American Banking & Market News reports. JPMorgan Chase & Co.’s price target indicates a potential upside of 17.17% from the stock’s previous close.
Shares of Baker Hughes (NYSE:BHI) traded down 0.40% during mid-day trading on Wednesday, hitting $62.05. The stock had a trading volume of 2,915,080 shares. Baker Hughes has a 52 week low of $42.60 and a 52 week high of $63.53. The stock has a 50-day moving average of $57.38 and a 200-day moving average of $53.74. The company has a market cap of $27.128 billion and a price-to-earnings ratio of 25.22.
Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Tuesday, January 21st. The company reported $0.62 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.82 by $0.20. The company had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $5.95 billion. During the same quarter last year, the company posted $0.62 earnings per share. Baker Hughes’s revenue was up 10.0% compared to the same quarter last year. Analysts expect that Baker Hughes will post $4.04 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James upgraded shares of Baker Hughes from a “market perform” rating to a “strong-buy” rating in a research note on Monday. They now have a $80.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Baker Hughes in a research note on Tuesday, February 4th. They now have a $59.00 price target on the stock. Finally, analysts at Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. They now have a $68.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $62.29.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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